Word: automen
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Dates: during 1950-1959
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...better gauge is sales, especially in February, which automen consider one of the key months this year. There the picture is increasingly bright. Sales were up 26% over February '58, with 405,300 cars sold. Inventories are 15% below 1958 levels, with little buildup in most lines. Leaders for February, in order...
...United Steel Workers' Boss Dave McDonald, the coming bargaining with the steelmakers poses a problem. He has to get something for his unionists, but the steelmakers, like the automen last spring, seem in a pretty parsimonious mood. Last week McDonald came out with an idea that he hoped would please his steel workers, and not cost too much for the companies. He suggested a three-months' vacation with pay for each worker every five years. "At current rates." said McDonald, "this would cost the industry no more than 12? an hour per man and would create...
Boat sellers also freely borrowed selling tactics from the automen, reminded potential customers that most banks give boat loans as easily as auto loans. They also talked up trade-ins as a selling aid. Last year, when outboard motor sales jumped 24% to a record $254 million, dealers took old models as trade-ins on close to half of their new sales...
...since record 1955. What gives automen heart is the low level of consumer debt and the prospect of a big increase next year. One of the axioms of the new economics-and the exact opposite of the copybook maxims-is that rising consumer debt is a sign of prosperity, expanding in times of optimism, contracting in times of doubt. With recession in 1958, consumers paid off $1 billion in auto debts, the highest repayment since World War II. Now, with recovery, they should be in the mood to borrow for cars again. While predictions...
...Automen estimate that the Ford, Thunderbird, Mercury, Edsel, Lincoln and Continental now have a third of the 1959 model market, compared to 28% during the 1958 model year. The face-lifted Ford is apparently outselling the completely redesigned Chevy, whose manufacturer was harder hit by strikes than Ford, has had trouble getting enough cars to dealers. Not until January will Chevy production catch up to Ford. Ford's orders are double last year's, dealers are down to a low 21-day inventory, and Ford says it is having a tough time meeting demand. Boasted Ford General Sales...